Case studies on the business of nutraceuticals, functional and super foods: a volume in the consumer science and strategic marketing series

A volume in the Consumer Science and Strategic Marketing Series, Case Studies on the Business of Nutraceuticals considers nutraceuticals from a strategic marketing perspective, exploring consumer needs and trends as a pathway to defining novel opportunities in developing and marketing these products. In addition to highlighting the importance of consumer needs in shaping a market strategy for nutraceuticals, this book also defines emerging trends and explores recent developments in the nutraceutical industry. Containing 11 chapters, this book, explores the competitive landscape of the global and European nutraceutical market, focusing on key market drivers, consumer and product trends, and marketing and technological challenges. Case Studies on the Business of Nutraceuticals outlines the processes that lead to the introduction of new products and the entrance of new competitors in the market and highlights how a market strategy that’s focused on consumers’ needs can contribute to a company’s strategy. The case studies and examples contained in this book demonstrate how companies can employ consumer science strategies to revise existing or develop new products and are sure to be a welcomed resource by new product developers, policy makers, food scientists, academicians, and students studying related fields. Front cover Half title Full title Copyright Contents Contributors Introduction SECTION 1 - The scenario Chapter 1 - The Nutraceutical Industry: trends and dynamics 1.1 Introduction 1.2 Definitions 1.3 Market 1.4 Industry, competitive dynamics, and innovation 1.4.1 Regulatory framework 1.4.2 Industry convergence and new entrants 1.4.3 New products 1.5 Determinants of growth 1.5.1 The mix with cultural and societal issues 1.5.2 Changes in communication 1.5.3 Preventive approach 1.6 Conclusions References Chapter 2 - A short review on willingness to pay for novel food 2.1 Introduction 2.2 Methodology and data 2.3 Consumers’ perception of novel food 2.4 Factors affecting willingness to pay for novel food 2.5 Conclusions and future research References Chapter 3 - Market-oriented methodologies that integrate the consumer into the functional foods new product development pr ... 3.1 Introduction 3.2 New product development: Functional foods challenges 3.3 Challenging marketing myopia: Co-creating new functional foods with consumers 3.4 Methodological approaches for consumer insights 3.4.1 Focus group discussions 3.4.1.1 History and recent developments 3.4.1.2 Focus group procedure, advantages, and challenges 3.4.1.3 Focus group in the context of new product development and functional foods 3.4.1.4 Selected business and market issues that can be addressed through focus groups 3.4.1.5 Selected steps in conducting a focus group to explore functional foods 3.4.2 Ethnography 3.4.2.1 History and recent developments 3.4.2.2 Ethnographic study procedure, advantages, and challenges 3.4.2.3 Ethnography in the context of new product development and functional foods 3.4.2.4 Selected business and market issues that can be addressed through ethnography 3.4.2.5 Selected steps in conducting an ethnographic study to explore functional foods 3.4.3 Netnography 3.4.3.1 History and recent developments 3.4.3.2 Netnographic study procedure, advantages, and challenges 3.4.3.3 Netnography in the context of the new product development and functional foods 3.4.3.4 Selected business and market issues that can be addressed through netnography 3.4.3.5 Selected steps in conducting a netnographic study for functional foods 3.4.4 Semiotics 3.4.4.1 History and recent developments 3.4.4.2 Semiotics procedure, advantages, and challenges 3.4.4.3 Semiotics in the context of new product development and functional foods 3.4.4.4 Selected business and market issues that can be addressed through semiotics 3.4.4.5 Selected steps in conducting a semiotics study for functional foods 3.5 Conclusions References Chapter 4 - Market-oriented methodologies that integrate the consumer into the functional foods new product development pr ... 4.1 Introduction 4.2 Sensory analysis 4.2.1 History and recent developments 4.2.2 Sensory analysis procedure, advantages, and challenges 4.2.3 Sensory analysis in the context of the new product development and functional foods 4.2.4 Selected business and market issues that can be addressed through sensory analysis 4.2.5 Selected steps in conducting sensory analysis for functional foods 4.3 Conjoint analysis 4.3.1 History and recent developments 4.3.2 Selected business and market issues that can be addressed through a consumer survey 4.3.3 Conjoint procedure, advantages, and challenges 4.3.4 Conjoint in the context of new product development and functional foods 4.3.5 Selected business and market issues that can be addressed through conjoint analysis 4.3.6 Selected steps in conducting a conjoint analysis study for functional foods 4.4 New technology developments for consumer insights 4.4.1 Big data 4.4.2 Selected business and market issues that can be addressed through big data 4.4.3 Mobile applications 4.4.4 Selected business and market issues that can be addressed through mobile applications 4.4.5 Eye tracking 4.4.6 Selected business and market issues that can be addressed through eye tracking 4.5 Combination of different methodological approaches 4.6 Conclusions and implications for functional food product development References Chapter 5 - Competitive advantage through multidisciplinary innovation in nutraceuticals: From concept optimisation to con ... 5.1 Introduction 5.2 The importance of multidisciplinarity for strategic innovation 5.2.1 Strategic innovation orientation: Product optimisation versus context transformation 5.2.2 Scope of multidisciplinarity: narrow versus wide 5.2.3 An integrative framework 5.3 Findings 5.3.1 Science and technology-focused innovation 5.3.2 Customer-centred innovation 5.3.3 Institutional innovation 5.3.4 Transformative pro-social innovation 5.4 Conclusion and implications References SECTION 2 - Strategy Chapter 6 - Nutraceutical and functional value of carob-based products The LBG Sicilia Srl Case Study 6.1 Introduction 6.2 Nutritional and functional value of carob-based products 6.3 The Market 6.4 The role of consumers’ final preferences 6.5 Case Study: LBG Sicilia Srl 6.5.1 Overview and core business 6.5.2 Values, strategies, and perspectives 6.6 Conclusions References Chapter 7 - Breaking the cycle of malnutrition through sustainable business models: The case of ready-to-use therapeutic foods 7.1 Introduction 7.2 The state of the art on food security and nutrition in the world: A summary 7.3 A system thinking view to approach ethical issues in achieving SDGs 7.4 A tool from nutraceuticals to face the Zero Hunger challenge: An overview on ready to use food (RUF) 7.5 Ready to use therapeutic food (RTUTF): Opportunities and constraints 7.5.1 Background 7.5.2 Market 7.6 Conclusions References Chapter 8 - Typical plant-based food from a nutraceutical perspective: The case of the Marche region 8.1 Nutraceutical food plants and strategy 8.2 Nutraceuticals plants in the Marche region 8.3 The strategic process of mature product rejuvenation 8.3.1 Consumers, health, and local products 8.3.2 Local food properties and traditional food knowledge 8.4 The relationships between food, tradition, and health 8.5 Analysis 8.6 Discussion and future projects 8.7 Conclusions References Chapter 9 - Organic and Made in Tuscany Spirulina: the story of Severino Becagli 9.1 Introduction 9.2 Market 9.3 Italy 9.4 Costs, margins, and value chains 9.5 Case of Spirulina Becagli 9.5.1 Story 9.5.2 Differentiation strategy 9.5.3 Business and the product portfolio 9.6 Final remarks and open questions Acknowledgements References Chapter 10 - Vanity and its impact on nutraceuticals’ awareness 10.1 Introduction 10.2 Nutraceutical market in Brazil 10.3 Literature review 10.3.1 Awareness 10.3.2 Vanity 10.4 Method 10.4.1 Sample and scale validation 10.5 Analysis and results 10. 5.1 Sample profile and nutraceutical awareness behaviour 10.5.2 Analysis of hypotheses 10.5.2.1 H1: Vanity impacts nutraceuticals’ awareness 10.5.2.2 H2. Vanity impacts nutraceuticals’ awareness, controlled by gender 10.5.2.3 H3. Vanity impacts nutraceuticals’ awareness, controlled by age groups 10.5.3 Points-of-sale (POS) observational research: Results and analysis 10.6 Conclusion 10.7 Management recommendations Appendix Appendix A: Awareness dispersion graph versus vanity—hypothesis 1 Appendix B: Normality test—gender Appendix C: Dispersion plot of the relationship awareness versus vanity and gender Appendix D: Normality test—age group Appendix E: Normality test—age and awareness Appendix F: Variability of age groups and dispersion plot by age group Appendix G: Normality test—vanity and age group References Conclusions Index Back cover